Beechbrook Capital has held a first close on its third private debt fund at more than €100 million. The vehicle, which was launched in March with a target size of €200 million, will provide debt capital to European private equity sponsored businesses with turnover between €10 million and €100 million. Beechbrook expects to hold a second close for the fund towards the end of the year, and a final close in 2017.
Beechbrook Mezzanine II, the second vehicle in the series, gathered €150 million at final close in July 2014.
The European Investment Fund and British Business Bank Investments Ltd have both committed to the fund, alongside other leading European institutional investors.
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